WED MAY 29 2024-theGBJournal|The Nigerian equities market maintained its winning streak in Wednesday’s session underpinned by investors’ demand for DANGSUGAR (+9.6%), FBNH (+5.0%), ZENITHBANK (+3.5%) and GTCO (+2.6%).
Precisely, the NGX ASI inched higher by 0.4% to close at 98,818.04 points. Accordingly, the MTD and YTD gains advanced to +0.6% and +32.2%, respectively.
The total trading volume declined by 7.3% to 518.95 million units, valued at NGN4.77 billion, and exchanged in 7,781 deals. ABBEYBDS remained the most traded stock by volume at 230.35 million units, while ACCESSCORP was the most traded stock by value at NGN1.39 billion.
Sectoral performance mirrored the overall market sentiment, as the Banking (+2.3%), Insurance (+1.1%), Consumer Goods (+0.9%) and Industrial Goods (+0.1%) indices recorded gains, while the Oil & Gas index closed flat.
As measured by market breadth, market sentiment was positive (2.1x), as 30 tickers gained relative to 14 losers. ABBEYBDS (+9.8%) and NASCON (+9.7%) topped the gainers’ list, while INTENEGINS (-9.7%) and JAIZBANK (-6.5%) recorded the highest losses of the day.
The naira depreciated by 11.2% to N1,329.65/US$ at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
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